Key Points:
- Pi Network’s token launched on OKX, opening at around $2.
- Trading volume hit 11.72 million PI tokens, totaling $19.21 million USDT.
- Market cap reached $3.2 billion, with a valuation of $18.5 billion.
Pi Network made its debut on the OKX cryptocurrency exchange with an opening price of $2, though the price later declined to $1 amid selling pressure. The first 24 hours saw noteworthy trading activity, with 11.72 million PI tokens exchanged for $19.21 million USDT.
From the total 100 billion maximum supply, 1.6 billion tokens became available for immediate trading, while the remaining tokens face lock-up periods ranging from two weeks to three years.
Pi Token Drops to $1 After Surging 1,541% on OKX Launch
The Pi Network’s market debut on the OKX exchange showed significant volatility, with considerable price fluctuations occurring within the first 24 hours of trading.
The token opened at approximately $2 but faced substantial selling pressure, which led to a decline. Prices fell to slightly under $1 as trading volume increased before backing to $1.64 as of this writing.
During this initial trading period, over 11.72 million PI tokens were exchanged, resulting in a turnover of $19.21 million USDT. Despite the noted price decline, order book data indicated continued buyer interest, particularly in the $1.4-$1.64 range.
Initially, 1.6 billion PI tokens were made available from a total circulating supply of 6.3 billion tokens. Market participants are actively monitoring supply dynamics as trading progresses.
Pi Network Sets 100B Token Cap, $18.5B Fully Diluted Valuation
The Pi Network has announced a structured approach to its token economics, establishing a maximum supply cap of 100 billion PI tokens.
Currently, 6.3 billion PI tokens are circulated, with only 1.6 billion available for immediate trading. The remainder of the tokens is subject to a lock-up period that ranges between two weeks and three years. This phased-release strategy is designed to regulate token velocity and support price stability.
As of now, Pi Network’s market capitalization is reported at $3.2 billion, while its fully diluted valuation stands at $18.5 billion.
Pi Network Faces Mixed Exchange Reactions
Following the Pi Network’s recent listing on the cryptocurrency exchange OKX, reactions from other prominent exchanges have varied significantly.
Bybit has announced a refusal to list the Pi token, citing concerns regarding its legitimacy “I really don’t want to get involved in the cryptocurrency world… Stay away from it… Thank you.” Bybit’s CEO Ben Zhou said in a recent statement. In contrast, HTX has introduced an innovative IOU conversion mechanism, offering PI tokens for $61.28 each.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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